China’s Happy Mask
As China basks in its new status as an economic superpower, it is mistakenly downplaying its serious structural weaknesses. Emphasizing China’s meteoric rise means less understanding in the rest of the world of the need to sustain rapid economic development in order to satisfy the expectations of its 1.3 billion inhabitants.
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BEIJING – China’s “face” may be its Achilles’ Heel. As it basks in its new status as an economic superpower – the dragon that is outpacing Asia’s tigers as well as the donkeys of the West – China is mistakenly downplaying its own serious structural weaknesses.